1065 K-1 Guaranteed Payments - Health Insurance Premiums

[kathleen4]

Hello, we completed a 1065 with the partnership paying the insurance premiums for the sponsored plan and reported the payments as guaranteed payments on the K-1s.  I noticed on the 1040 for the partners, it's only allowing a partial adjustment to income for the insurance cost and the rest is on the Sched A. Is there a way to review the calculation on the 7206.  When I try to look up that form it isn't showing and I wanted to see how the program is calculating the deduction.  Thank you. 

[sjrcpa]

Is Line 1 of K-1 self-employment income?

Is the sum of Lines 1 and the GPs greater than the GPs?

[kathleen4]

GPs are higher than box 1. Do you know if there is a way to review the way the calculation is being figured out for the deduction on the 1040?  Thanks. 

[sjrcpa]

I don't use ProConnect. There is probably a worksheet.

Get out the instructions and go over the 7206.

Bottom line - they need to have at least as much net SE income as the health ins payments.

[mmdevost]

I am having the same issue.  Did you ever find a resolution?

[kathleen4]

The calculation is showing on the 7206 for each partner.